Mortgage Repayment Calculator
Estimate your home loan repayments for both principal and interest (P&I) and interest-only loans. See monthly, fortnightly, and weekly repayment amounts, plus a yearly amortisation schedule showing how your loan balance decreases over time.
How this calculator works
Enter the loan amount
Enter how much you're borrowing — this is the property price minus your deposit, plus any costs you're capitalising into the loan.
Enter the interest rate
Enter the rate your lender has offered, or the current advertised rate. Variable rates change over time; fixed rates are locked for the fixed period.
Choose the loan term
Pick the loan term in years (typically 25–30 years for owner-occupiers). Shorter terms mean higher repayments but less total interest paid.
Select repayment type
Choose principal and interest (P&I) for owner-occupiers paying down the loan, or interest-only for investors during the interest-only period.
Compare repayment frequencies
Review your monthly, fortnightly, and weekly repayments. Fortnightly payments effectively add one extra monthly repayment per year, reducing total interest.
Frequently asked questions
What interest rate should I use in the calculator?
Use the rate your lender has quoted you, or the current advertised rate from the lender you're considering. If you're just exploring, use the average owner-occupier variable rate (currently around 6–7% as of 2025). Remember that lenders are required to assess your repayments at the rate plus a 3% APRA serviceability buffer.
What's the difference between principal and interest vs interest-only?
Principal and interest (P&I) repayments pay down the loan balance over time, so each payment reduces what you owe. Interest-only repayments only cover the interest charge, leaving the loan balance unchanged for the interest-only period (typically 1–5 years). Investors often choose interest-only for tax reasons; owner-occupiers usually choose P&I.
How does the loan term affect my repayments?
A longer loan term (e.g. 30 years) means lower monthly repayments but more interest paid over the life of the loan. A shorter term (e.g. 25 years) means higher repayments but less total interest. The calculator lets you compare different terms to see the trade-off.
Are these repayments monthly, fortnightly, or weekly?
The calculator shows all three. Most Australians pay fortnightly because it aligns with their pay cycle and effectively makes one extra monthly repayment per year, shaving years off the loan term.
Does this include lender fees or LMI?
No. This calculator estimates principal and interest repayments only. Account establishment fees, ongoing fees, and Lenders Mortgage Insurance (LMI) are separate and depend on your lender and loan-to-value ratio. Use our deposit planner and purchase costs calculators for a full picture.